Nucor (NYSE:NUE) Releases Q3 2021 Earnings Guidance

Nucor (NYSE:NUE) updated its third quarter 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.300-$7.400 for the period, compared to the Thomson Reuters consensus estimate of $6.400. The company issued revenue guidance of -.

Nucor stock traded up $3.19 during trading hours on Thursday, reaching $103.53. 31,833 shares of the company were exchanged, compared to its average volume of 3,293,385. Nucor has a 12 month low of $46.00 and a 12 month high of $128.81. The stock has a 50-day moving average of $109.51 and a 200 day moving average of $99.34. The company has a current ratio of 3.11, a quick ratio of 1.76 and a debt-to-equity ratio of 0.42. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 10.16 and a beta of 1.38.

Nucor (NYSE:NUE) last announced its earnings results on Thursday, July 22nd. The basic materials company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.81 by $0.23. Nucor had a return on equity of 26.26% and a net margin of 11.70%. The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $8.24 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was up 55.6% on a year-over-year basis. As a group, research analysts forecast that Nucor will post 19.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 10th. Investors of record on Thursday, September 30th will be given a dividend of $0.405 per share. The ex-dividend date is Wednesday, September 29th. This represents a $1.62 annualized dividend and a yield of 1.56%. Nucor’s dividend payout ratio (DPR) is presently 48.50%.

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Nucor from $100.00 to $130.00 and gave the company a hold rating in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Seaport Global Securities started coverage on Nucor in a report on Monday, August 23rd. They issued a buy rating and a $130.00 target price on the stock. JPMorgan Chase & Co. began coverage on Nucor in a research note on Wednesday, June 16th. They set a neutral rating and a $114.00 price target for the company. The Goldman Sachs Group cut Nucor from a buy rating to a neutral rating and lowered their price target for the company from $123.00 to $108.00 in a report on Wednesday, October 6th. Finally, Seaport Res Ptn reissued a buy rating on shares of Nucor in a research report on Monday, August 23rd. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $102.25.

In related news, CEO Leon J. Topalian sold 12,000 shares of the stock in a transaction on Monday, July 26th. The stock was sold at an average price of $96.76, for a total transaction of $1,161,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael D. Keller sold 3,431 shares of the firm’s stock in a transaction on Friday, August 13th. The shares were sold at an average price of $127.40, for a total value of $437,109.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 139,814 shares of company stock worth $15,115,839. Corporate insiders own 0.71% of the company’s stock.

Nucor Company Profile

Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises of carbon and alloy steel in sheet, bars; structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments.

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Earnings History and Estimates for Nucor (NYSE:NUE)

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